5,300 Shares in Cognizant Technology Solutions Co. (NASDAQ:CTSH) Bought by Integrated Quantitative Investments LLC

Integrated Quantitative Investments LLC purchased a new position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,300 shares of the information technology service provider’s stock, valued at approximately $408,000.

Other institutional investors have also added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at about $28,000. Trust Co. of Vermont lifted its position in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 292 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. Spire Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, Morton Brown Family Wealth LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley reduced their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. BMO Capital Markets boosted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Mizuho raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Wednesday, March 19th. Fourteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions Trading Down 6.2 %

Shares of NASDAQ CTSH opened at $68.74 on Friday. The company has a market cap of $34.00 billion, a PE ratio of 15.24, a P/E/G ratio of 2.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The firm’s 50 day moving average price is $82.21 and its 200-day moving average price is $79.38. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its Board of Directors has approved a share repurchase program on Tuesday, March 25th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a $0.31 dividend. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.80%. Cognizant Technology Solutions’s payout ratio is 27.49%.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.